Intuit Q4 loss widens on one-time charge, sales rise

MichaelPaige

LOS ANGELES (CBS.MW) - Intuit
INTU, -1.13%
on Wednesday said its fiscal fourth-quarter net loss widened to $42.1 million, or 22 cents a share, from a year-earlier loss of $24.7 million, or 12 cents a share. The company took a one-time charge of 10 cents per share related to the sale of its public sector business management solutions business, it said. Excluding one-time items, the company lost $11.4 million, or 6 cents per share, compared to a loss of $10.7 million, or 5 cents a share last year. Sales rose to $275.9 million from $245.1 million. Wall Street analysts, on average, had anticipated the financial software maker would post a loss of 7 cents per share on sales of $272 million, according to a Thomson First Call survey. Ahead of the earnings release, shares of the Mountain View, Calif.-based gained 4 cents to $39.09.

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